How to Rent a Building for Business

Written by amelia jenkins

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Renting a building is an important step to starting a business. (Office building image by vin5 from Fotolia.com)

Renting office space is an important step in starting a business. When you choose to rent your own building, you have more freedom and space then you would in a commercial business park or shopping mall. With a little planning, you can easily rent a building to for your business.

Skill level:

Easy

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Instructions

1

Compile a list of your monthly expenses, including payroll for your employees and inventory. Subtract this total from your current income to get your excess monthly income amount. Remove a portion of this amount, such as 10 per cent, to keep as profit. You can then use the remainder as the total amount you can spend on rent per month.

2

Determine the amount of space you will need in the building. Make a list of how many offices, meeting rooms or break rooms you will need. Be sure to include space for a warehouse or customer greeting area if this is needed.

3

Contact a local commercial real estate agent and tell him about the type of property you are looking for, including the amount you can afford each month and the space you will need. Have the real estate agent compile a list of properties matching your description.

4

Ask the real estate agent to make an appointment for you to view any properties that interest you. Visit the property on the day of your appointment.

5

Work with your real estate agent to submit a lease proposal to the property owner. Be sure to include any amenities or speculations you require.

6

Evaluate the property owner's response with your real estate agent and make a list of any changes or additions you want. Have the real estate agent submit a second proposal to the property owner if changes need to be made. Repeat this process until you can reach a mutual agreement.

7

Review the lease contract thoroughly when you receive it from the property owner. Discuss any questions you may have with your real estate agent.

8

Sign the lease agreement and supply the landlord with your security deposit and first month's rent.